Cernavoda Reactors 3 and 4 to Start in Two to Three Years
- New Europe Investor
- November 14, 2015
Romanian Energy Minister, Andrei Gerea has announced that construction at reactors 3 and 4 at Cernavoda Nuclear Power Plant will start within the next two to three years.
He made the announcement after signing a memorandum with Chinese investors, adding that the expansion of the plant will contribute to the economic growth of the country.
Gerea said there will be a surplus of energy in Romania, making the country an energy hub in the region.
The two reactors currently at the plant are operated by Nuclearelectrica and cover nearly one fifth of Romanian electricity demand.
Originally commissioned during the communist era in the 1980s, Cernavoda was supposed to have five reactors. However, it was not until 1996 that Unit 1 began to produce electricity. 11 years later in 2007, Unit 2 began to operate.
After many years of talks, Units 3 and 4 failed to get off the ground, primarily for financing reasons.
The Chinese investment into the project is said to be approximately €6.4 billion, and makes up the bulk of the investment, according to Romanian media.